May 2020 Net Worth update: 68,935.87
It is that time of the month, when you sit down and figure out the monthly expenditures, savings, and the increase in value of your portfolio.
Interesting enough, we have had a pretty good month for our finances. Our stimulus check from the US came in giving us a $1200 boost to our Net Worth. Since Mrs. Frugal Expat is not an American she did not receive any stimulus. It would have been cool, but we will take our $1200.
Side Hustling Income
This month has been full of side hustling as well. Mrs. Frugal Expat did some presentations about teaching English, which she got some extra pay for. We did four weeks of tutoring, and I even started a Finance Class. The Finance class may not pay me until June, but side hustling to help with our savings.
Unfortunately, we are still fighting to get some refunds for a flight of ours that was cancelled in March. The Credit card company put back the amount we tried to dispute. It has been a long and tiring process, but at least we have closed four to five cases with our Chase card. Chase has some great travel insurance on their card.
Net Worth Breakdown
Let me Break down this Net Worth for you all. We are sitting at $68,935.87. That is an increase of +$5,650 from last month. The stock market has gone up, and we are doing pretty well financially.
Right now, we have about $58,000 in stocks, and $11,700 in cash. I would normally not hold this much cash, but like I said we are still fighting to try and get back some money from cancelled flights.
We had to hold onto some cash to pay off the credit card bill in case the flights do not get refunded.
Here is the breakdown of the month:
Cash Savings: (+$1,331.88)
We got that $1200 stimulus check from the CARES Act. Mrs. Frugal Expat got paid $100 for a presentation on teaching. We had earned $266 for tutoring. We got paid this month. Wohoo!! Plus we did not spend much money at all. Just on buying food and transportation to school and back.
Taxable Account: (+$4,741.66)
The market went up a bit this month. I had increased a few shares in VXUS and VTI. Plus got a few free shares from opening up Webull. Our portfolio increased in value by 8.5% this month, which helped add $4,740 to it.
Roth IRA: (+$148.84)
My Roth IRA increased a tiny bit. Since living abroad I do not make enough money to put into my Roth IRA. All of the income that I receive is Tax Free, so the Roth just increases as the market increases plus when dividends get deposited as well. It had a growth of $149. Every little bit counts.
Capital One put back the credit they gave us for one of our flights being cancelled. Visa did not have enough information to do a chargeback. So we are fighting to get those flights refunded. It has been long and tedious, but we have been quite blessed this month with other refunds and credits.
We are also having some pretty good savings in our Taiwan bank accounts, and once that gets big enough we will do some transfers to our American account.
Our goal by the end of 2020 is to have a net worth of $120,000. We are getting close. If we keep side hustling, spending less, and investing we will reach our goal and hopefully surpass it.
I’m Steve. I’m an English Teacher, traveler, and an avid outdoorsman. If you’d like to comment, ask a question, or simply say hi, leave me a message here, on Twitter (@thefrugalexpat1). Many of my posts have been written to help those in their journey to financial independence. I am on my journey, and as I learn more I hope to share more. And as always, thanks for reading The Frugal Expat.